Indonesia Shares Expected To Open In The Green

(RTTNews) - The Indonesia stock market bounced higher again on Tuesday, one day after snapping the two-day winning streak in which it had picked up more than 70 points or 1 percent. The Jakarta Composite Index now sits just above the 7,125-point plateau and it's got a solid lead again for Wednesday's trade.

The global forecast for the Asian markets is mixed to higher on an improving outlook for interest rates. The European markets were slightly lower and the U.S. bourses were up and the Asian markets are expected to follow the latter lead.

The JCI finished modestly higher on Tuesday following gains from the financials and mixed performances from the cement and resource stocks.

For the day, the index added 36.52 points or 0.52 percent to finish at 7,125.31 after trading between 7,082.88 and 7,134.22.

Among the actives, Bank CIMB Niaga rose 0.30 percent, while Bank Mandiri collected 0.43 percent, Bank Danamon Indonesia improved 0.73 percent, Bank Negara Indonesia jumped 1.93 percent, Bank Central Asia lost 0.57 percent, Bank Rakyat Indonesia was up 0.47 percent, Indosat Ooredoo Hutchison soared 3.48 percent, Indocement fell 0.27 percent, Semen Indonesia advanced 0.82 percent, Indofood Suskes increased 0.11 percent, United Tractors perked 0.11 percent, Astra International shed 0.45 percent, Energi Mega Persada dropped 0.91 percent, Aneka Tambang tumbled 1.81 percent, Vale Indonesia rallied 0.72 percent, Bumi Resources tanked 2.20 percent and Astra Agro Lestari and Timah were unchanged.

The lead from Wall Street is upbeat as the major averages shook off a soft open, quickly moving into the green and finishing well in positive territory.

The Dow advanced 173.01 points or 0.48 percent to finish at 36,577.94, while the NASDAQ jumped 100.91 points or 0.70 percent to close at 14,533.40 and the S&P 500 gained 21.26 points or 0.46 percent to end at 4,643.70.

The strength on Wall Street followed the release of a highly anticipated Labor Department report showing U.S. consumer prices inched up in line with economist estimates in November.

The data has added to optimism about the outlook for interest rates ahead of the Federal Reserve's monetary policy announcement later today.

While the Fed is widely expected to leave interest rates unchanged, traders will be looking to the accompanying statement and projections for signs the central bank could begin cutting rates next year.

Crude oil prices fell to a six-month low Tuesday amid lingering concerns about the outlook for fuel demand and worries about possible oversupply in the market. West Texas Intermediate Crude oil futures for January ended down $2.71 or 3.8 percent at $68.61 a barrel.